Compensation plan key performance indicators
As organizations increase the number of metrics they use to compensate physicians, developing and adjudicating compensation plans in a transparent manner is critical.
In an industry that commonly acknowledges that the number one reason doctors leave their group practice is discontent over compensation, it is essential that validation and accuracy are cornerstones of physician compensation plans. Disconnected systems and manual processes will only lead to additional and significant challenges to administering competitive, legally compliant compensation plans. For the last decade, Hallmark have been consulting on business process management strategy and developing cutting-edge technology for the healthcare industry. Heisenberg II’s new-generation, artificially intelligent technology delivers critical automation to support the strategic design and tactical implementation of physician compensation plans.
Percentage of physicians by compensation plan type
Risk-based compensation plans have maintained the dominant position in the market over the past few years. The industry is seeing a shift in the types of metrics being used to generate compensation for physicians.
The risk continuum associated with existing proposed reimbursement structures
An emphasis on risk-based models will require tighter alignment among providers. As organizations continue to formally align with the physician community, it is essential that they insure accuracy in the compensation process. The majority of physicians today are compensated under variable-based compensation plans. In the next few years, the market will continue its shift in compensation models to better align incentives with value-based care that will provide rewards for a combination of physician production, resource management, and ultimately, health outcomes.Download product sheet
|1–Fee for service
2–Patient-centered medical homes that receive extra dollars for patient management
3–Pay for performance